Rock Creek Group LP increased its holdings in International Business Machines Co. (NYSE:IBM) by 23.2% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,473 shares of the technology company’s stock after buying an additional 465 shares during the period. Rock Creek Group LP’s holdings in International Business Machines were worth $363,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. BlackRock Inc. raised its holdings in International Business Machines by 3.2% during the 1st quarter. BlackRock Inc. now owns 64,286,216 shares of the technology company’s stock valued at $8,566,779,000 after acquiring an additional 2,014,943 shares during the period. Geode Capital Management LLC grew its position in shares of International Business Machines by 2.9% in the first quarter. Geode Capital Management LLC now owns 13,700,334 shares of the technology company’s stock valued at $1,820,456,000 after purchasing an additional 389,517 shares in the last quarter. Morgan Stanley raised its stake in shares of International Business Machines by 22.6% during the 1st quarter. Morgan Stanley now owns 12,082,219 shares of the technology company’s stock valued at $1,610,076,000 after purchasing an additional 2,228,318 shares during the period. Franklin Resources Inc. lifted its holdings in International Business Machines by 4.4% during the 1st quarter. Franklin Resources Inc. now owns 5,841,173 shares of the technology company’s stock worth $778,396,000 after purchasing an additional 247,465 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in International Business Machines by 1.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 4,112,916 shares of the technology company’s stock valued at $548,139,000 after buying an additional 45,937 shares in the last quarter. 55.24% of the stock is owned by institutional investors.
IBM opened at $136.22 on Wednesday. The business’s fifty day simple moving average is $140.48 and its 200 day simple moving average is $139.61. International Business Machines Co. has a 52 week low of $105.92 and a 52 week high of $152.84. The company has a quick ratio of 0.79, a current ratio of 0.84 and a debt-to-equity ratio of 2.21. The stock has a market cap of $122.10 billion, a PE ratio of 22.97, a P/E/G ratio of 1.56 and a beta of 1.22.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 10th. Investors of record on Tuesday, August 10th were issued a dividend of $1.64 per share. This represents a $6.56 annualized dividend and a dividend yield of 4.82%. The ex-dividend date was Monday, August 9th. International Business Machines’s dividend payout ratio is currently 75.66%.
A number of equities analysts have recently commented on the stock. Morgan Stanley raised their price objective on shares of International Business Machines from $152.00 to $164.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 20th. Citigroup raised their price target on shares of International Business Machines from $140.00 to $150.00 and gave the company a “neutral” rating in a report on Tuesday, July 20th. BMO Capital Markets upped their price target on shares of International Business Machines from $150.00 to $155.00 and gave the stock a “market perform” rating in a report on Friday, July 16th. Finally, Societe Generale raised International Business Machines from a “sell” rating to a “hold” rating and lifted their price objective for the company from $121.00 to $140.00 in a research note on Tuesday, July 20th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, International Business Machines currently has a consensus rating of “Hold” and a consensus price target of $149.86.
International Business Machines Profile
International Business Machines Corp. is an information technology company, which provides integrated solutions that leverage information technology and knowledge of business processes. It operates through the following segments: Cloud and Cognitive Software, Global Business Services, Global Technology Services, Systems, and Global Financing.
Further Reading: Day Trading – Risk Worth the Reward?
Want to see what other hedge funds are holding IBM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for International Business Machines Co. (NYSE:IBM).
Receive News & Ratings for International Business Machines Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for International Business Machines and related companies with MarketBeat.com's FREE daily email newsletter.